Do I need advice from a commercial conveyancing lawyer?

 

Conveyancing is the name given to the transfer of both domestic and commercial property in the UK. The work and legal advice which goes into commercial property transactions is typically conducted by a specialist commercial conveyancing lawyer, who will guide either the buyer or seller through the entire process, from offer and acceptance to completion and moving in or out.
 
Commercial property in the UK is classified as anything which is not a private dwelling. This classification is broad, and includes everything from hotels and care homes, to shops, warehouses, factories and office space. 
 
As the nature of commerce is more money orientated, the value of commercial transactions is often substantially higher than that of a residential transaction, with estates of commercial property fetching millions of pounds. Add in the fact that the protagonists in the transaction are frequently companies and not individuals and you can see why commercial conveyancing is an entirely different beast to its residential counterpart.
 
Commercial conveyancing solicitors will often work alongside commercial surveying practices. In a crude assessment, surveyors are to commercial property what estate agents are to residential homes. The crucial difference is the level of expertise available: Qualified commercial property surveyors are often degree trained, and will almost certainly be affiliated to the Royal Institute of Chartered Surveyors, having sat a two year course of professional experience and rigorous examination.
 
As with any property transaction, the role of the commercial conveyancing solicitor is to ensure that the property is correctly owned, appropriately valued, and is free from any nasty covenants or charges which might restrict commercial activities or devalue the property at a later date. They will work with the surveyors to gather appropriate information and prepare the legal documentation for the sale.
 
In many commercial transactions, the property in question is often leasehold rather than freehold. In such cases, it is important that a commercial conveyancing solicitor inspects the terms of any lease to ensure that there are appropriate break clauses and that rent reviews are reasonable.
 
If you would like to obtain legal advice on commercial conveyancing, Caven can put you in touch with a local specialist solicitor free of charge. So, if you have any questions or would like our help in finding local solicitors please call us on 08001 221 2299 or complete the web-form above.
 
 
 
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